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What I Spent: Fall Break in Florida!

Let’s just say fall break treated me well.

As a college student, if there is one thing I am consistently looking forward to, it’s a break. I love being a student, but at the same time, it gets exhausting after a while. I work two jobs, one internship, and still have to make the best grades I possibly can. Thousands upon thousands of students around the globe can relate to this struggle (yet somehow, people still wonder why we’re so sleep deprived). Like the rest of these students, I basically jump for joy when a break rolls around. However, this year I was even more excited for fall break than usual, and for a good reason.

For fall break, I was blessed enough to be invited to Florida with my boyfriend and a few other friends! We stayed at a beautiful condo in Miramar Beach with a gorgeous view of the ocean. It was the most amazing experience, but that’s not even the best part. It was pretty much entirely free. I won’t get into exactly how that happened since it’s not my place to discuss (it was really just some luck and good connections), but all we really had to pay for was gas, groceries and whatever we wanted to do while we were there. Right now, money is pretty tight for me, so it was the perfect way to escape for a bit but keep my spending to a minimum.

This is a bit crazy to say, but I only budgeted $100 to spend on the trip.

You heard that right. I really wanted to spend less than $100 while I was in Florida. It seemed somewhat possible, as long as our group didn’t want to go out too much. Spending any more money would have put me in a rough spot, and I am trying my hardest to start from the ground up and build better financial habits for myself. It would have been tough, but I was prepared to say no to certain activities if I needed to. I was already in Florida with the most beautiful beach I’d ever seen just mere yards from my door, and that was all the entertainment I really needed.

So, what did I end up spending?

My grand total ended up being $92.24! I was absolutely ecstatic that I didn’t end up going over my budget, but there were a few specific reasons it didn’t happen. Here’s a breakdown of what I spent:

  • Groceries: $53.18
  • Road Trip Snacks: $17.06
  • Mini Golf: $13
  • Uber: $9

Now, let’s talk about what I ended up spending! You’ll notice one huge expense is not listed, and that’s gas. My boyfriend drove us and essentially refused to let me pay him back gas money. While I appreciate his kindness, I still feel guilty over it and wished he would have let me. Otherwise, we kept our entertainment expenses to a minimum, which I was quite thankful for. We went mini golfing one night and took an Uber there. Besides that, we pretty much stayed at the beach and our condo. I picked up sunscreen for the group because we didn’t have any. That ended up accounting for some of the grocery bill, which ended up being fairly low. We really only spent $35 on food and drinks, which I thought was super impressive, considering we went shopping for five people. I also got some road trip snacks for my boyfriend and I, which was the absolute least I could do after he drove 7 hours there and back and wouldn’t let me pay him back.

Now comes the important part. What did I learn?

Yes, I stayed under budget. However, my boyfriend didn’t fold when I asked him several thousand times what his Venmo username was so I could pay him back. If he had, I would have been out a lot more money. In addition, if we had gone out any more, it would have been much more expensive. Essentially, what I learned is that even a free vacation isn’t really free. On the next trip I take, I will definitely leave more room in my budget so that I can account for more expenses. I’m excited to rebuild my savings and get back to a more financially comfortable place so this is possible in the future.

Want to follow along?

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Effective Goal Setting: Using SMART Goals

Goal setting is key to our success.

We all know that setting goals is important. In the United States, it’s emphasized in our education from the day that we start kindergarten. Goal setting is crucial in many areas of our lives, but it is especially important in personal finance. It is the only real way to determine what we are working toward, and why we are working toward it. In today’s blog, we are going to be discussing the benefits of goal setting, how you can apply goals in your life, and what goals you might want to set for your personal finance journey! That way, we can all begin our journeys to a fruitful financial life. 

So, we know goal setting is important. But why exactly is it so important?

There are so many great reasons to set and work towards goals. According to this article from Forbes, goal setting increases productivity and allows for the building of self-confidence. The article dives deeper into these feats, emphasizing how this is done. It argues that setting clear goals also allows you to take action in the matters that you care about and stay the course until you accomplish what you set out to do. The article also says that setting goals allows us to discover more about ourselves, since the goals that we set reflect our innermost desires. Achieving goals also allows us to learn more about ourselves: how we operate, how we respond to certain situations, and how we prefer to get things done. Finally, the article also states that achieving goals can be addicting, and thus creates more productivity. With goal setting, we are much more fulfilled, and we get our work done better. It’s clearly the best way to create an action plan for what we’d like to do.

Okay, yeah, they seem pretty important. But will any goal do the trick?

The simple answer is no. I mean, I would love to someday have a million dollars. You could say that statement alone is a goal, but it’s not going to be effective. It’s vague, probably not attainable (at least for a few decades), and there is no timeline whatsoever. If you’re setting goals like these, they’re probably not going to work for you. Instead, we should be setting SMART goals.

What are SMART goals?

You’ve probably heard this phrase before, and you might even hate me a little bit for repeating it! However, SMART goals truly are the way to go when setting goals, especially in the case of personal finance. SMART is a fancy acronym, so I’ll break it down for you. According to Eastern Washington University, SMART goals are:

  • Specific
  • Measurable
  • Attainable
  • Relevant
  • Time-Based

With this in mind, it’s clear that my desire to someday have a million dollars doesn’t meet the standards of a SMART goal. We can easily change the wording and add a few details so that it might, though! Let’s do it.

How could I obtain a million dollars?

The first step in creating a SMART goal is to make it specific. Essentially, I will need to detail exactly how I plan on accomplishing my million dollar feat, and what needs to happen in order for me to get there. The statement for this part of the goal might look something like this: “I would like to have $1 million by the time I am sixty years old. I will achieve this by retaining a high savings rate, investing my savings, and living below my means.” My next step in creating a SMART goal is to make it measurable. Luckily for me, my goal is a numeric value, so it is extremely measurable. I will know my goal is met when I have a million dollars even. Following this, our goals must be attainable. Is my goal attainable? One could argue that it might be, with enough income and hard work! It’s definitely not impossible. The goal must also be relevant, and I would say that it is. I would love to be as financially free as possible, since the idea of being financially burdened is highly stressful to me. Finally, the goal must be time based. Since I added that I want to accomplish this goal before I am sixty, there is a time constraint! This allows me to devise a plan more effectively.

Cool! That sounds easy enough. There’s just one thing – I’m not really sure what goals I should be setting for my personal finance journey. What would you recommend?

This is entirely up to you and based on the stage of life that you’re at! As for me, I’m a college student, so I’m just trying to get my bearings. Right now, I am prioritizing my goal of having $1000 in my emergency fund by the time I turn twenty-two. I’ve just recently started saving for this goal, and I turn twenty-two in July! This was the most attainable way I could think of to reach this goal. My next goal will involve my student debt, which I would like to pay off completely by 2025. If you don’t have an emergency fund, you could make creating one a goal! Do you have student debt or credit card debt? You could choose to work toward paying this off as well. If you want to purchase a car or a house, you could work toward a down payment! Your goals are for you. Envision your life. What do you want it to look like? Try to set goals that will help you get there.

That’s all she wrote, folks!

Thank you so much for reading! Did you like this blog? Follow Belle In Full Bloom on Instagram, Facebook, and TikTok to get more content like this around the clock! Have a question? Submit it here. Got advice you’re dying to share? Drop us a line right here! We’re so happy you joined us today. 

3 Great Ways to Create and Maintain Budgets!

Welcome to the first ever Belle In Full Bloom Q & A blog! 

I am so excited to kick off this series and create a space for learning and growth. The question of this week revolves around how to create and maintain a budget! It is as follows: What are some mediums for budgeting? Is there one that works the best?

There are limitless ways that you can create and maintain a budget.

As a self-proclaimed budgeting freak, I can confirm this firsthand. I’ve tried several different kinds of budgeting rules, methods, and mediums. Just based on personal experience, I can confidently answer the latter half of the question. There is no medium for budgeting that works the best. Budgeting is an incredibly personal ordeal, so when choosing a platform to facilitate your budgeting activities, you just have to understand your personal preferences. Are you great with technology? Do you like to do things on your own terms, even if it creates more of a learning curve? Are you more traditional? These are all great things to consider.

Okay, so we’ve got the bases covered. Now it’s time for the burning question. What are some of the different mediums for budgeting?

Here are a few of the different methods that you can use to create a budget and maintain it over time. 

Simple Yet Effective Apps

Apps are a great platform for setting up a budget for yourself. They are built with beautiful, easy-to-read layouts. Typically, they come preloaded with templates that allow you to focus on the goals that are most important to you. They’re customizable, and you can access them on both computers and mobile devices. Not to mention, they are typically either free or low cost! If you’re looking for the ease of an app, are technologically savvy,  and want extremely accessible data, then an app could be your best bet! However, apps still have their shortcomings. They’re fairly customizable, but not entirely. If you’re a bit of a control freak (like me – yes, I am subtweeting myself here), you might want to be able to label your transactions in certain ways, or create different visuals, or change the layout of the budget. In this case, switching to a more DIY method might have some serious benefits for you.

Interested in trying out an app to create a budget? I’ve used Mint in the past, and it is a great tool! It’s free, and super easy to use! I would highly recommend this one!

Old Fashioned Pen and Paper

I tried out the old pen and paper method of budgeting after using Mint and realizing that I wanted something more personalized to me. After researching some budgeting templates on Pinterest, I  found a few that I liked and synthesized them into a document that fit my needs. I started using the sheets to write down my spending for each pay period, so that I could make sure I was living below my means. It gave me a way to budget, but also allowed me to be creative in doing so! I used colorful pens, stickers, and a font that I liked in order to keep myself engaged. There was an old binder under my bed, and I used it to store my sheets in. This way, I could keep track of my progress over the pay periods! Of course, this method is much more DIY. That gives you more control, and allows you to design your budget exactly how you’d like. If you like things a particular way, you will probably really like this method! However, it does take more time and energy! If you want a quick, low-effort way to budget, the app route might be more your style!

The Best of Both Worlds: The Spreadsheet Method

Anyone who knows me at all knows that I love spreadsheets. They are extremely customizable, and they can hold so much data that it can get concerning. You can filter them, create graphs and other visuals with the data they contain, and can even view them from your phone. If you couldn’t tell, this is my personal favorite method. It is the perfect blend of the convenience and accessibility of an app with the customization aspects of a handwritten or printed template. Of course, if you’ve never created a spreadsheet, learning how to use Excel or Google Sheets might take you a bit of time. However, once you’ve got the basics down, it’s fairly easy to navigate both of these platforms. I’ve experienced both the frustration of learning how to use a spreadsheet, and the payoff of finally knowing what I’m doing. If you aren’t interested in learning how to use spreadsheets and want something simpler, then a different method will definitely work better for you. If this sounds like it would fit your needs, take the leap!

So, there you have it.

Those are a few of the mediums that you can use to create and maintain a budget. All of them are great in their own ways, and all of them have some kind of downfall. If you analyze yourself as a learner, you’ll easily be able to identify a method that will work the best for you. No matter which you decide to go with, though, just know that you are making strides in the right direction. Deciding to budget your money can only help you in the long run, and it encourages healthy habits. I’m so proud of you for getting started!

Did this blog prompt any questions for you?

I would love for you to submit them! Click this link here to be redirected to our question form. I’d be happy to answer to the best of my ability, or to find an answer for you. Similarly, if you have any advice to share, we’d all love to hear it. You can submit advice at this link here. As always, thank you so much for reading!

The 50/30/20 Rule!

For first time budgeters, knowing where to start can feel intimidating.

Believe me, I’ve been there! There are so many different categories of purchases that we make. It can be so hard to classify the things that we pay for, or know how much we should be spending in certain areas. Luckily, I was introduced to the 50/30/20 rule early on in my personal finance journey. The 50/30/20 rule is an easy budgeting technique that assists you in sorting out your expenses into three categories, and determining how much should be spent in each area ideally. It helped me create a roadmap to save money and track my expenses, and thus, made it easier to identify when I went over budget during certain pay periods. Does this sound intriguing to you? Let’s take a deeper dive into the 50/30/20 rule!

Now that you know the gist of the 50/30/20 rule, it’s time to get specific. What exactly does it mean?

The 50/30/20 rule is a way to break down your paycheck into categories. Each category is then assigned a percentage. This way, you can try to allot a target amount to each category based on your income. In order to stick to your budget, your spending in each category should not exceed the target amount. So, what are the categories and percentages?

According to the 50/30/20 rule:

  • About 50% of your income should go to your needs. This includes things such as housing expenses, utilities, transportation expenses, and groceries.
  • About 30% of your income should go to your wants. This could include takeout, entertainment, nights out with friends, books. Basically, whatever you want!
  • The last 20% of your income should go to savings goals. This could go towards a sinking fund, your emergency fund, your 401k, your Roth IRA, or a high yield savings account. Whatever your working towards saving for, 20% of your income is a good place to start for contributions!

Let’s take a bi-weekly paycheck of $1000 as an example.

Every two weeks, you are obtaining $500 to put toward your needs, $300 to put toward your wants, and $200 to put toward savings. You can easily use this to gauge how much you can spend in certain areas of your life. For instance, you probably won’t want to be spending the bulk of your “needs” money on housing, since you also need the other things that fall under that category. In order to make sure you can meet your needs, you should try to minimize your housing costs. If, for instance, $300 sounds like far too much money to spend on things that you want, you could decide to increase the percentage you spend on needs up to 60%. You could then lower the “wants” percentage to 20%. That leads me to the best part of the 50/30/20 rule: it is entirely customizable.

If the 50/30/20 rule doesn’t make sense to apply in your life, you could always try adjusting the percentages. Budgeting has no strict rules, and is really just a tool to help you figure out the best way to manage your finances. If a 60/30/10 rule or a 40/30/30 rule works better for you, then use those percentages instead! It’s entirely up to you.

Did this blog bring about any additional questions for you? Ask them by clicking this link here and I’d be glad to answer! If I don’t quite know the answer, I’d be happy to do some research and find it for you. We’re all here to learn and grow, including me. As always, thank you for reading!

Welcome to Belle In Full Bloom!

Welcome to Belle In Full Bloom! I am absolutely thrilled to have you here. It is my mission for this community to become a safe space for women to learn, grow, and support one another in their personal finance journeys. Of course, this isn’t always the easiest subject to tackle, so I figured I would begin this journey by getting to know each other a little bit. Here is a bit of my story!

Hi, my name is Hannah. I am a twenty-one year old college student living in Nashville, Tennessee, but I grew up in Boston, Massachusetts. I love music, dogs, lattes of all kinds, hot girl walks, and (above all else) my family. In fact, my alias comes from my beautiful mother, who called me “Hannah Belly” throughout her pregnancy with me. This blossomed into “Hannah Belle” when I was born, and it just stuck. I have always loved my sweet nickname, but I have loved its story even more. It is a representation of both my mother’s love and the innate power of women.

Women are superheroes. There is no denying it. We can grow humans from scratch inside of our bodies. Once they’ve transformed from tiny clumps of cells into seven pounds of breathing, comprehending, developing life, we can bring that human into the world. We can then begin the long journey of raising our creation, if we so choose. We do all of this on top of working, getting an education, completing mundane chores, managing finances, and maintaining relationships. My mom, a fellow superhero woman and my personal idol, gave me my nickname and watched it grow with both of us. She created me and raised me to be my greatest, most powerful self. I am on a journey to continue realizing this version of myself, and to help other young women do the same. Thus, my nickname became the perfect moniker for my project, Belle in Full Bloom. 

I began Belle in Full Bloom on a whim, but my love of personal finance has stood the test of time. I grew up in an atmosphere that made me begin thinking critically about finances and effectively managing my money from a young age. I got my first job when I was thirteen as a babysitter for a family in my neighborhood, and have been obsessed with saving money ever since. Over the years, this has developed into almost an addiction. I’ve read personal finance books, followed content creators with similar mindsets, and created every type of budget imaginable just to see if it worked for me. I loved the idea of bringing together a community of women to share advice, knowledge, and information. This way, we can all cultivate the most healthy and harmonious financial lives for ourselves. If there’s anything more powerful than one woman, it’s a unified group of them.

Now it’s my turn to get to know you! If you’re reading this, leave a comment telling me your name, where you’re from, and why you want to get started on a personal finance journey! You can add in anything else you feel comfortable with, but this is a good start for sure!

I am so excited to learn, grow, and achieve with you. This journey will not be linear, pretty, or easy, but it is beyond exciting. Thank you for reading and following! If you want to keep up with me, follow me on Instagram, Facebook, and TikTok!